No, It Has NOT Started, The Housing Market is NOT Collapsing, Sorry Graham Stephan!

I was disappointed to see one of my favorite real estate resources admit recently that his headlines are just clickbait.

I was watching Graham Stephan, a former real estate agent and a great resource on all things personal finance admit in an interview with Patrick Bet David that he has to use clickbait to continue to build his YouTube audiance.

Well, that's disappointing, but not surprising.

For example, his most recent Youtube on real estate is "It Started: The Housing Market is Collapsing."

It features his classic sad face, with a sign shouting "BROKE." Notice that the first words in his description are promoting his crypto affiliates, so is the only purpose of the video to promote crypto? This is from a guy with almost 4 million subscribers on a video that got 471,000 views!

When you dig into the video, he basically is saying that while home prices will slow down and ONLY grow by 4% a year, inflation will average more like 8% a year. OK, that's not ideal, but what does that mean?

So, I created a graph to demonstrate that IF his predictions (he is quoting Zillow's prediction) is correct, a home that today is purchased for $500,000 will be worth $585k in 5 years, yet the same $500k if it grew at 8% a year would be worth $680k. 

Even IF that's true, that's not collapsing is it? Plus you get to live in the house or collect rent. PLUS you get a tax deduction. Plus where else would you put the money and get at least 4% a year tax-deferred? I know there are options, but there are no guarantees anywhere.

Another offender of fake real estate news this week is MarketWatch. 

OK, let's break this down.

"Remarkably uncertain." Sounds scary, what does that mean? It really has not been that volatile this year other than the interest rate jump, which has been predicted for years and makes sense post-pandemic.

But "some deals under contract are being canceled." That sounds really scary!!!!!

But deals cancel in EVERY market. The article by MarketWatch conveniently does not share any numbers, but a quick search shows nationally that while 16% of deals were canceled in Jue, that compares with 12.5% in June 2021. OK, not great, but hardly headline-worthy.
--
Bill Gross, The LAProbate Expert
I am a real estate broker in Los Angeles, CA focused on probate real estate and the leader of a team of over 1,100 agents nationally probate experts.

Join my live stream weekly on probate real estate: www.ProbateWeekly.com

#probateattorney #probatesales #probaterealestate

I host two FREE Real Estate Zoom calls every week:

Real Estate Flipping / Investing Focused:
Tuesday 3PM Pacific Time
Link: https://www.eventbrite.com/e/so-cal-real-estate-investment-meetup-tickets-80900334077
Topic: So Cal Real Estate Investing Meetup
This group is for Landlords, Fix and Flip, Traditional and Non-traditional Real Estate Investing, as well as all Real Estate Service Providers (Agents, Title, Contractors, and more.),

Probate Focused:
Thursday 4PM Pacific Time
Link: https://www.eventbrite.com/e/how-to-get-your-first-sale-in-probate-real-estate-tickets-67396261031
Topic: How to Get a Sale NOW in Probate Real Estate

There are lots of programs that promise to help you sell a LOT of homes, but how do you get your 1st sale? As the baby boomer ages, the number of homes being passed on to heirs continues to increase. I'll share with you 11 different ways that I have generated a listing or buyer sale that do not cost you any money.